Faults:
Exhaust gaskets began failing and leaking at about 130k.
Stabilizer link rubbers deteriorated, needed replacing.
Fuel pump died at about 125k.
Radio would randomly jump through stations every now and then, and needed a hit or two on the side to reset.
Rear window leaked. Tried resealing it... twice. Just learned to live with it.
General Comments:
I had this Carlo through my Junior-Senior years of high school, and I could not have thought of a better deal. Mine was white with the maroon striping and decals, with matching maroon interior.
It was quick, smooth, sharp, and fun. Good commuting vehicle that ripped up the streets on Friday and Saturday nights. Floated on the highway and had a great ride. My favorite was hitting the backroads and hearing the BFG-Radials squeal under hard cornering, which it did well by the way. It would hit 130 mph without breaking a sweat, and could hold its own on a "show" lot with the big boys (i.e. Chevelles, etc.).
Anyone considering this vehicle, I think should consider even harder. It was fantastically reliable (aside from the fuel pump, which was no biggie as it was a cheap part and an easy fix) as well as it being a great car to take out for cruising nights. Cheap to maintain. It has its quirks, but you learn to live with them because the good outweighs the bad. The only reason I sold mine was because I needed a truck (and not a muscle coupe). I love the G-body cars of the 80s like the Monte, Regal/GN, and Cutlass because they were the last of true Detroit muscle. Bottom line, great car.
Oh, and in case you were wondering, even with my high-school-senior-lead-foot in it all the time, I still averaged 15 mpg. If I was trying for economy, I could get nearly 25 on the highway.